Visible trade gap down to €500.2 million in first six months of 2010

However, during the first six months of 2010 there were increases both in imports and exports of €31.5 million and €273.8 million respectively, when compared to the corresponding period in 2009.

According to the NSO, the increase in imports in the first six months of 2010 when compared to the corresponding period last year was mainly attributable to industrial supplies and fuels and lubricants.

The NSO reported that during the first six months of 2010, the rise in exports when compared with the same period in 2009 was primarily due to machinery and transport equipment.

Other increases in exports during the first six months of 2010 when compared to the same period in 2009 were registered in mineral fuels, lubricants and related materials, chemicals, food, semi-manufactured goods, miscellaneous transactions and commodities, crude materials and beverages and tobacco.

The NSO reported that during the first six months of 2010, the bulk of Malta's trade flows and consequent trade deficit continued to be directed towards the EU.

Drops were registered in imports from the Netherlands, the United Kingdom and Germany, while increases were recorded from Italy, Spain, France and Belgium.

According to the NSO, exports to the euro area showed an increase, mainly to Germany and France, with other increases being recorded for Japan, Singapore, China, Turkey and Switzerland.

Provisional data for international trade showed that the visible trade gap in June stood at €70.6 million, down by €22.4 million when compared to the corresponding month in 2009.

However, both imports and exports rose increased during this period by €26.7 million and €49.1 million respectively.

According to the NSO, the increase in imports during June 2010 was mainly due to capital goods, industrial supplies, and fuels and lubricants.

On the other hand, the NSO reported that a decrease in imports in June 2010 was registered in consumer goods.

According to the NSO, mineral fuels, lubricants and related materials accounted for the main increase in exports during June when compared to the corresponding month last year.

The NSO also reported that other increases in imports during June 2010 were registered in machinery and transport equipment, chemicals, miscellaneous manufactured articles, semi-manufactured goods, food, beverages and tobacco, miscellaneous transactions and commodities, and crude materials.